Retirement plan

HIGH FALLS OPERATING CO. LLC HOURLY EMPLOYEES 401(K) PLAN

Name: HIGH FALLS OPERATING COMPANY, LLC - HIGH FALLS OPERATING CO. LLC HOURLY EMPLOYEES 401(K) PLAN (2023) Form 5500
Creator: HIGH FALLS OPERATING COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGH FALLS OPERATING CO. LLC HOURLY EMPLOYEES 401(K) PLAN, HIGH FALLS OPERATING COMPANY, LLC

HIGH FALLS OPERATING COMPANY, LLCEIN 80-0301564Plan #004PY 2023

445 ST. PAUL STREET - ROCHESTER, NY 14605585-263-9223LinkedIn201-500 employeesfood production

Other plans on this EIN

1 filing

#001Retirement-$1.2M assets

Prospect flagsLow returnsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$14.6M

+9.4% from 2022

Total participants

378

-5.5% from 2022

Average account balance

$65,289

+11.8% from 2022

Annual return

13.33%

+25.86 pp from 2022

Benchmarks

See 755 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort755 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$16.15M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$71K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

227

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

56.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.11%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$392

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
APFS WEALTH MANAGEMENT9+ years Service code 27 350 LINDEN OAKS SUITE 140 · ROCHESTER, NY 14625	Advisory (Plan)	$38,618
AMERICAN REALTY ADVISORS3 years Filed as: AMERICAN TRUST COMPANY Service code 13 · EIN 62-0951563	Contract Administrator	$34,046
INSERO & CO. CPAS, LLP4 years Filed as: INSERO & CO. CPAS LLP Service code 10 · EIN 47-5324570	Accounting	$12,000

Plan features & details

Pension benefit codes2E2G2J3D2F2T2K

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$85K

$251 / participant

Investment mgmt$39K45.6%
Contract admin$34K40.2%
Other / not subdivided$12K14.2%

% of EOY assets

0.579%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: INSERO & CO. CPAS, LLP
Auditor EIN: 475324570
Audit fees: $12,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,289

$69,823-6.5%

$76,902-15.1%

$74,473-12.3%

Participation rate

54.3%

70.0%-15.7pp

69.6%-15.3pp

70.7%-16.4pp

Annual return

13.33%

19.99%-6.7pp

37.91%-24.6pp

34.36%-21.0pp

Employer contribution / active EE

$327

$2,148-84.8%

$2,534-87.1%

$2,638-87.6%

Participant deferral / active EE

$3,173

$3,558-10.8%

$3,833-17.2%

$4,530-29.9%

Admin fee / account holder

$378

$398-5.0%

$5,479-93.1%

$347+8.9%

Provider

Service type

Compensation

APFS WEALTH MANAGEMENT9+ years

Service code 27

350 LINDEN OAKS SUITE 140 · ROCHESTER, NY 14625

Advisory (Plan)

$38,618

AMERICAN REALTY ADVISORS3 years

Filed as: AMERICAN TRUST COMPANY

Service code 13 · EIN 62-0951563

Contract Administrator

$34,046

INSERO & CO. CPAS, LLP4 years

Filed as: INSERO & CO. CPAS LLP

Service code 10 · EIN 47-5324570

Accounting

$12,000

HIGH FALLS OPERATING CO. LLC HOURLY EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGH FALLS OPERATING CO. LLC HOURLY EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion